School of Commerce and Management Sciences

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Advancing entrepreneurship education in Namibia: A practical approach.
(NUST & Tshwane University of Technology, South Africa., 2007) Mbaziira, S.; Oyedokun, Comfort
This paper is a qualitative analytical study of competences in entrepreneurial education. It is based on an initiative which analyzed various approaches to entrepreneurial education in Namibia. In the recent past, promoting entrepreneurial education at local, regional and national levels has become a high priority in public policy. The Namibia educational systems have expanded dramatically while the graduate job market is declining tremendously. Entrepreneurial education which can lead to job creation is a sinequo non. The different approaches to entrepreneurial education in Namibia are analyzed. The differences in conceptual, contextual, design and delivery impact both positively and negatively on entrepreneurial eduaction in Namibia. A number of actual and perceived barriers need to be overcome to facilitate a better understanding of entrepreneurial education. The conclusion and recommendations could offer valuable insight into the important aspects of entrepreneurial education in Namibia. Various stakeholders could also derive some benefits including policy makers, educators, government agencies and students. A further study on entrepreneurship education and curricula practices is highly recommended.
Anti piracy disaster risk management for sea cargo logistics in the south east Atlantic and Benguela coastal area.
(2014) Madejski, Eugene; Fritze, Christopher
Piracy in the south east Atlantic is an increasing challenge for shippers and freight forwarders, especially in the Gulf of Guinea. At the coast of Nigeria, Benin and Togo 63 per cent of piracy acts involved vessels are tankers carrying refined petroleum products. According to the International Maritime Organization (IMO) the official number of annual successful attacks in this region is approximately 50. The International Maritime Bureau (IMB) concedes that the real number of pirate attacks is at least twice this figure (UNODC, 2014). The Namibian newspaper The Namibian reported on Thursday 11 July 2013 about the expanding plans of Namibias biggest port in Walvis Bay (Namport). It has been reported that Namport will increase its container handling ability up to one million TEU’s a year. It also will have one of the largest gas and oil supply bases in the region (Hartmann, 2013). Due to this, there will be a higher traffic of oil tankers and other cargo ships along the west coast of Africa. This situation could attract pirates to conduct attacks in the Benguela coast region. The Angolan air force and navy were already hunting suspected pirates after an oil tanker went missing near Luanda (BBC, 2014). Angola is a direct neighboring country to Namibia. Members of the Southern African Development Community (SADC) like South Africa, Botswana, Lesotho, Malawi, Zambia, Zimbabwe and Namibia already exercise techniques and procedures to coordinate anti-piracy operations. More than 700 soldiers were involved in the Operation Welwitschia in 2013 (Nkala, 2013).
The applicability of the short-run Phillips Curve to Namibia.
(Frontiers in Bioscience., 2005) Ogbokor, Cyril A.
In this research, we invoke linear and logarithmic regression models to empirically test the validity of the Short-run Phillips curve for Namibia by relying on macroeconomic time-series data running from 1991 to 2005.Our results offer some support for the presence of the phenomenon of stagflation in Namibia. This is rather contradictory to the underlying philosophy of the original Phillips curve. In the light of the outcome of the investigation anti-inflation cum unemployment measures are suggested. Further studies focussing on the applicability of the Phillips curve to the economy of Namibia is strongly recommended.
Applicability of the Small Business Franchise Prototype model to Namibia.
(2008) Asemota, O. O.; Asemota, G. N. O.
Namibia has been witnessing an increase in the cases of business failures, job losses and job cuts. In 1970, the unemployment figure was about 20 000 and increased to about 223 000 (36.7%) in 2004. Also, Namibia’s unemployment rate increased between 2001 and 2004. As a result, the major challenges confronting Namibia include ensuring employment-creating growth, strengthening competitiveness and a smooth process of land reform. The small business franchise prototype model developed in this study addresses efficient and effective small enterprise creation and operation. Extensive literature search, review, analyses and modeling were used to develop the proposed small business model as a set of self-sufficient, lead-generating, client converting, and customer satisfying machines that work. This prototype model is achieved by designing systems to get the work done and training people to operate those systems to produce consistent results. Although the Government has put some structures in place to stimulate entrepreneurship development through training, finance, support and other incentives; research has shown that the failure rate hovers around 85 percent. Results show that the proposed business model has a success rate of more than 90 percent. The model can be used to assist unlicensed shebeen operators and rehabilitate former Ramatex workers.
Are we addressing entrepreneurship at the wrong level? Applying the theories of NLP and change management.
(NUST & Tshwane University of Technology, South Africa., 2007) Clarke, Angela
This paper presents an alternative view of how it may be possible to provide aspiring entrepreneurs with the required skills and behaviours, using the relatively new approaches of neuro-linguistic programming currently in vogue in many businesses and organisations today. This paper presents a concept, providing both the ideas and the rationale behind the suggestions. It has not yet been validated by thorough research.
AN ASSESSMENT OF THE RELATIONSHIP BETWEEN FOREIGN TRADE AND ECONOMIC PERFORMANCE: EMPIRICAL EVIDENCE FROM SOUTH AFRICA
(JEL, 2017) Ogbokor, Cyril A.; Meyer, Daniel
The driving objective of the study was to estimate the impact of foreign trade on economic performance using the economy of South Africa as a test site. The study contributes to the empirical literature by testing for a long-run relationship between foreign trade and economic performance in South Africa by employing quarterly data stretching from the period 1995Q1 to 2015Q4. The method of vector autoregression (VAR) was employed. Variables included in the study consisted of real GDP, exports, openness of the economy and exchange rate. The study found cointegrating relationships among the variables investigated, and that export was found to contribute more towards economic performance compared to openness of the economy and exchange rates. When it came to Granger-causality analysis, the study found a number of unidirectional relationships between the pairs of variables examined in the model. For example, it was found that economic growth granger causes exports and also openness of the economy granger causes exports. The forecast error variance decomposition suggests that economic performance itself accounted for most of the innovations that ensued during the 10-period forecast horizon employed in the analysis. Policymakers could utilize the results of this study, when it comes to policy formulation and design for the economy of South Africa. The findings of the research could be used to improve upon economic policy for South Africa and other developing countries on a similar path. The study creates opportunities for further research endeavours concerning the issue under investigation so as to unveil more evidence on the nature of the relationship between foreign trade and economic performance in the economy of South Africa.
Becoming a regional gateway by developing logistics hubs: A blessing or a curse?
(2013) Savage, Christopher J.
Many developing countries wish to become the “gateway” to a region or part of a continent. One strategy involves encouraging logistics cluster development. These support global supply chains and enable the growth of the host country through the resulting trade as well as providing direct and indirect employment opportunities during the build and subsequent operation of the hub. Namibia has a desire to become the gateway to southern Africa and the SADC region. This paper builds on research on Caribbean cluster potential (Lambourdiere et al, 2012), and Namibian logistics (Jenkins et al, 2012) to identify the potential benefits, drawbacks and risks of such a strategy.
Black entrepreneurship in the real estate sector in Namibia: Constraints and prospects.
(NUST., 2003) Mooya, Manya M.
Real estate offers a number of opportunities for entrepreneurial activity, notably in the areas of esatate agency, real estate development and consultancy services such as valuation. The real estate sector is particularly attractive to entrepreneurs because of relatively low start up capital requirements and the potential for huge returns in relatively short times. The world over is replete with examples of real estate tycoons. Thirteen years after independence, a cursory examination of the real estate sector shows that Black Namibians have not taken advantage of the opportunities available in this sector in any significant way. This is most evident in the estate agency business, where historically, White firms dominate, and in valuation services. In fact Namibia has not even a single private real estate valuation firm operating in the country and has to rely on external consultants. This paper examines the constraints which militate against increased Black participation in the real estate sector in Namibia. Focussing on estate agency and property valuation services, it shows that there are institutional, regulatory and other factors which work against Black participation in the real estate sector. The paper concludes by suggesting ways in which this state of affairs can be improved.
Can Foreign Trade Propel Economic Growth in Nigeria? Evidence from Causality Analysis
(JEL, 2017) Ogbokor, Cyril A.
Documented studies in the existing literature pertaining to causality relationships between foreign trade and economic growth indicators are quite enormous. This study investigates the dynamic causal relationship between foreign trade and economic growth in Nigeria during the period extending from 1995:Q1 to 2015:Q4. The study responds to the issue of omitted variable bias by incorporating trade openness and exchange rates as control variables. The study employed the granger-causality tests to determine the causal relationship, and in particular the direction of causality among the variables examined after carrying out the stationarity, cointegration and diagnostic tests. The study found a number of distinctive unidirectional causalities running from trade openness to exports, exports to exchange rates, real GDP to exports, trade openness to exchange rates, as well as from real GDP to exchange rates. These results suggest that, to increase and sustain economic growth, Nigeria should commit huge resources to its infrastructural development, diversification strategy, incentives pertaining to the country’s manufacturing sector, trade promotion policy, as well as having in place, an effective monitoring mechanism of curbing dumping activities of multinational corporations. The study recommends that, in future studies, efforts should be made to increase the variables used in the causality model. It is also suggested that future research endeavours, should engage other causality models in the existing literature to further investigate the issue under consideration.
Can Namibia become a regional gateway by developing a logistics hub around Walvis Bay's Port?
(NUST, Department of Communication, 2014) Savage, Christopher J.; Fransman, L.
Many developing countries wish to become the 'gateway' to a region or part of a continent. One strategy involves encouraging logistics cluster development. These support global supply chains and enable the growth of the host country through the resulting trade as well as providing direct and indirect employment opportunities during the build and subsequent operation of the hub. Namibia has a desire to become the gateway to southern Africa and the SADC region. Previous work, (Munoz & River, 2010; Lambourdiere, Savage & Corbin, 2012) have established the criteria for successful clusters, whilst Savage (2013) looked at Namibia's potential for success using data from the NGLC's 2011 'State of Logistics' research (Jenkins, Savage & Fransman, 2012). This article reviews those findings using current survey data to assess Namibia's logistics industry's readiness to take on this gateway role.
Customer service in the Namibian logistics industry: Benchmarking for the future. Paper presented at the 1st Namibia Customer Service Awards & Conference, 2014.
(NUST, 2014) Fransman, L.; Salomo, E. N.; Savage, Christopher J.
An efficient and effective logistics industry is essential if Namibia to achieve the objectives of its “Vision 2030” and “NDP_4” plans to stimulate growth through trade. Logistics can support trade, but only if it achieves the appropriate service levels. Namibia plans to develop a thriving port-centric logistics cluster, however for this to succeed it is vital that Namibia’s logistics industry delivers levels of customer service that match those required by international shippers and does so at a competitive price. This research used an exploratory approach through questionnaires and telephone interviews to gain a better understanding of those levels of service. The findings produced a preliminary view of the service levels offered by the logistics industry in Namibia. The results showed the service aspects that are of greatest importance to Namibian logistics users and indicated how well the industry is fulfilling them.
Determinants of foreign direct investment: Theory and evidence, with Zambia as case study.
(NUST., 2003) Mooya, Manya M.
Foreign Direct Investment (FDI) constitutes a resource flow which is widely considered particularly useful for the economic development of developing countries. This resource has however, proved elusive for countries in Africa, despite widespread moves to liberalise investment regimes and offer attractive incentives. This paper reviews the determinants of FDI in the light of empirical evidence and using Zambia as a case study. Using Dunning's Eclectic Paradigm as an analytic framework, the paper shows that there are location specific variables which tend to constrain the inward flow of FDI into Zambia
DETERMINANTS OF HOUSE PRICES AND NEW CONSTRUCTION ACTIVITY: AN EMPIRICAL INVESTIGATION OF THE NAMIBIAN HOUSING MARKET
(J o u r n a l o f D e v e l o p i n g A r e a s, 2017) Sunde, Tafirenyika; Muzindutsi, Paul-Francois
The demand for and supply of housing are heterogeneous and differ across countries, provinces and cities. In the Namibian context, the housing market has experienced a substantial increase in house prices. Such an unexpected growth rate in house prices suggests that the Namibian housing market may not be sustainable in the long term. This means that there is a high probability of a housing price bubble in Namibia if the house prices continue to increase. The aim of this study was to conduct an econometric analysis of endogenous and exogenous determinants of house prices and new construction activity in Namibia. This study also attempted to establish whether there is evidence of overvaluation of house prices in the Namibian housing market and this is important in identifying the possibility of a housing price bubble in Namibia. In addition, the study is relevant during the current period where Namibia is faced with a continuous increase in house prices. A restricted VAR model with a Johansen cointegration approach was used to analyse monthly data from January 2000 to December 2014. The selection of the data set was aimed at providing representatives for various housing demand drivers and housing supply determinants. For modelling on the supply side, new construction investment as a percentage of GDP was employed. The other variables incorporated as exogenous variables include the economic growth rate, the consumer price index, nominal wages as a percentage of GDP, the short-term interest rate, mortgage loans as a share of GDP and population in the 15-64 cohort as a percentage of GDP. Results show that the house price index in Namibia has proved more sensitive to changes in population, mortgage loans and inflation; whereas the construction activities were found to be more sensitive to the house price index and inflation. Granger causality results show that there is a bidirectional causality between the house price index and new construction activity in Namibia. The study therefore found evidence of overvaluation of house prices in the Namibian housing market, which may lead to a house price bubble in the Namibian economy. Namibian policymakers, through the Bank of Namibia, should come up with policies which ensure that the majority of mortgages given by the banks are for constructing new houses instead of financing the purchase of existing houses.
Determinants of intra-industry trade between Zimbabwe and its trading partners in the Southern Africa Development Community region (1990-2006).
(Science Publications, 2009) Sunde, Tafirenyika; Chidoko, C.; Zivanamoyo, James
The main objective of this study was to establish the determinants of intra industry trade between Zimbabwe and its trading partners in the Southern African Development Community (SADC) region. The study was mainly motivated by the need to establish the type of goods that Zimbabwe trades with its trading partners. Approach: The study also wanted to prove the hypothesis that similarity in per capita income is not the main determinant of intra-industry trade between Zimbabwe its SADC trading partners; and also that intra industry trade does not necessarily take place among countries with similar economic structures and level of development. The study used the Modified Standard Gravity Equation which has Intra-Industry Trade Index as its dependant variable. The model was regressed using Ordinary Least Squares in excel. Results: The results of the study show that per capita income, trade intensity, distance, exchange rate and gross domestic product explain Intra-Industry Trade (IIT) between Zimbabwe and its SADC trading partners. The study also established that most countries in SADC trade in more or less the same goods and this can be explained by the type of development that these countries were subjected to during the colonial era which resulted in the establishment of similar economic structures and per capita incomes that were more or less the same. As result, these countries produce and trade similar products. Both hypotheses above were proved wrong. Conclusion: We therefore concluded that Zimbabwe needs to get into more bilateral trade agreements with its trading partners in order to enhance trade between itself and its trading partners. We also concluded that Zimbabwe has to give incentives to its producers and also mend its relationship with the Breton Woods Institutions (International Monetary Fund and the World Bank) if it wants to reach its full trade potential.
Does IPSAS Implementation Promote Financial Accountability in a Local Government Authority?
(2024-08-14) Van Rooi, Veronique; Kamotho, Daniel
The study aimed to assess the perception as to whether IPSAS is effective in promoting financial accountability in a local government authority following their implementation. A quantitative approach and descriptive research design was used for this study using structured questionnaires for data collection. The study finds evidence to support that implementation of IPSAS positively correlates with enhancing accountability in financial reporting for a local government authority. Further, the study recommends effective strategies that could be used by policymakers, senior central and local government management to enhance the effectiveness of IPSAS in promoting accountability in financial reporting, such as stakeholder’s engagement, external support needed, and transformation in structure and law necessary for successful implementation of IPSAS in a local government set up.
ECONOMETRIC ANALYSIS OF THE IMPACT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN NAMIBIA: EVIDENCE FROM ANNUAL DATA
(Sobiad, 2016) Ogbokor, C. A
The driving objective of the study was to measure in quantitative terms the influence of foreign direct investment on economic growth through cointegration techniques. Namibia was used as a case study. Annual dataset stretching from 1990 to 2014 was also applied. The imperative findings arising from the study constitutes the following: The study found long-run relationships among all the variables under consideration in the econometric model. The estimated long-run equation also indicates a positive association between the explanatory variables and real gross domestic product. In particular, net foreign direct capital was found to have a stronger influence on economic growth compared to openness and real foreign exchange rate. Correspondingly, a unidirectional relationship running from real exchange rate to net foreign direct investments was found. In addition, amongst the three explanatory variables used in the model, openness and net foreign direct investment contributed more towards innovations in economic growth during the forecast horizon compared to real exchange rate variable. The research paper concludes by creating opportunities for further investigations.
An Econometric Investigation of the Impact of Foreign Trade on Economic Growth: The Case of Namibia
(British Journals, 2016) Ogbokor, Cyril, A; Meyer, Daniel. F
This study investigated the impact of foreign trade on economic growth in Namibia for the period 1990-2012 using the Auto-regression Distributed Lag (ARDL) method. Further, annual time series macroeconomic data was utilised. The results show co-integrating relationships amongst the variables used in the study suggesting the possibility of a long-run relationship amongst these variables. Secondly, the study found positive relationships amongst the four variables used in the study implying that foreign trade could potentially be used to promote economic growth. The result is also in line with economic postulation. Thirdly, the model used for the study was found to be stable from an econometric point of view. Based on these results the study puts forward various policies that would make Namibian exports to have a comparative and competitive edge in international markets. In this context, the study stressed the importance of investing in the country’s export-oriented sectors for the sake of promoting foreign trade and economic growth in Namibia.
An econometric study of the long-run relationship between defence expenditure and economic growth: Evidence from a developing country.
(IJECM, 2015) Ogbokor, Cyril A.
The high levels of financial allocations to Namibia’s defence budgets have been heavily criticised because such expenditures is considered as a leakage to the country’s economy. In light of this, the study assessed the impact of military spending on economic growth in Namibia by employing the two-step Engle-Granger approach in the context of a single equation setting. The macro-economic time-series data sets utilised stretches from 1990 to 2014. The study found co-integration relationships among the variables used, suggesting the existence of a long-run relationship among the variables used in the econometric model. Furthermore, the model used passed the stability test. However, the predictive power of the model was found to be very weak given the low value of the adjusted coefficient of determination. In addition, a unidirectional causality relationship running from economic growth to military expenditure was found implying that military spending does not promote or lead to economic growth. Therefore, the need for the government to control its expenditure on defence cannot be over stressed given the findings of the study. Concomitantly, further studies concerning the issue under examination should consider the use of quarterly data sets as against annual data sets.
An Econometric Time-Series Analysis of the Dynamic Relationship between Foreign Trade and Economic Growth in a Developing Country: Evidence from Namibia
(AUDOE, 2016) Ogbokor, Cyril, A; Meyer, Daniel. M
Economists have an inclination for quantifying the relationships amongst variables at both micro and macro levels. In this study, the possibility of a long-run relationship between foreign trade and economic growth in Namibia is assessed. Exports, foreign direct investment and exchange rates were used as potential predictors of economic growth, while real gross domestic product served as a proxy to economic growth. Quarterly time-series macro-economic secondary data sets were utilised from the period 1990 to 2013. Firstly, the study found positive relationships amongst the four variables used in the study. Indeed, this positive relationship suggests that the economy of Namibia can potentially be expanded by means of foreign trade. The result is also in line with broad economic theory. Secondly, the study found that economic growth responds stronger to changes in exports and foreign direct investment compared to changes in exchange rates. Thirdly, co-integrating relationships were found amongst the variables used in the study, implying a long-run relationship amongst these variables. Lastly, the study found that exports indeed Granger-cause economic growth. The implications of the research are that the results of the research could be used to improve economic policy for Namibia and other developing countries.
Economic growth and tax structure in Zimbabwe: 1984-2009.
(Inderscience Enterprises Ltd., 2012) Marire, Juniours; Sunde, Tafirenyika
We examine the tax-growth nexus in Zimbabwe using parametric and non-parametric analysis. We use a two-stage estimation procedure that first generates efficiency scores for the country using a Data Envelopment Approach. We use the efficiency scores in the second stage to normalise growth to get a proxy for potential economic growth. Using this potential growth we run a translog model that allows computation of time-varying elasticities of growth to changes in tax policy. The translog model results we got indicate that economic growth is inelastic to tax structure in Zimbabwe. As such, we recommend policies that rely on non-tax stimuli to the economy to buttress growth. We find that the most inefficient years were those punctuated with bad economic governance and droughts.

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